Cadillac Fairview, in partnership with Infrastructure Ontario and the provincial agency Metrolinx, is working to create East Harbour, a transit-oriented hub that calls for the construction of about six residential buildings — nine towers — on the 38-acre former Unilever soap factory property, near the Don Valley Parkway north of Lake Shore Boulevard East directly east of downtown Toronto. The district is bounded by Lake Shore Boulevard East, the Don Valley Parkway, Eastern Avenue at the northern end and Leslie Street.
It’s part of Ontario’s Transit-Oriented Communities, the objective of which is to create a multi-modal core that includes stops for a new Broadview extension TTC streetcar sop and a Smart Track line. Cadillac Fairview says it’s “committed to building a vibrant employment district” at East Harbour.”
The former Unilever site was purchased in 2012 by real estate developer First Gulf, in collaboration with two other firms specializing in capital and investments.
Several years later First Gulf, city and transit planners, the local community and other interests came together to forge a master plan for the East Harbour site, a blueprint finalized in 2018 that sets out to “transition the former industrial area into a vibrant, contemporary employment district.”
The master plan envisions a new transit hub, new streets and parks, floor protection measures, building designs and other steps to pave the way for millions of square feet of office, commercial and retail space creating about 50,000 new jobs,
A partnership between the province and Cadillac Fairview, East Harbour is bounded by the Don Valley Parkway to the west and Lake Shore Blvd East to the south. The plan includes 15 towers with 10 million square feet of office space, which will bring an anticipated 70,000-plus jobs to Toronto; 3.25 million square feet of residential space or approx. 4,300 units; as well as 9 acres of parks and open space, and new retail, cultural, entertainment, and amenity space to support employees and residents.
All together, East Harbour is an $8 billion investment and is the largest planned commercial development in Canada. It has been compared to the Canary Wharf development in London. The first project is the adaptive reuse of the Unilever soap factory building.
Ontario announced the Transit Oriented Communities (TOC) initiative last year with the focus to foster vibrant communications at transit stations. The East Harbour TOC will be served by the
East Harbour Transit Hub, which will integrate a new GO/SmartTrack station, a subway stop along the proposed Ontario Line, and expanded TTC streetcar service on Broadview. The transit hub is a central and essential fixture within the planned development, and it is expected to become Toronto’s second business transit hub to Union Station, which is only a five minute ride by subway.
The project also includes the revitalization of the lower Don Lands and Port Lands, which will create a new mouth of the Don River. waterfront and parklands, trails, and renewed connections between the Don River and Lake Ontario.
Toronto is lacking in large parcels of land for development, and East Harbour represents a prime opportunity to drive job growth and provide a true mixed-use development that fosters a sense of community among workers and residents alike that becomes a local pedestrian hotspot. It is predicted that 100,000 new residents will live within a one-kilometer radius of East Harbour.
The masterplan was created to foster a protected microclimate. By analyzing building massing, solar conditions, wind patterns, and annual shifts in climate, the designers have created in area in which residents can enjoy approximately 30 to 50 more days outdoors than in other areas of the city. The master plan is currently being reviewed and seeking zoning approval, and the transit hub will begin construction next year followed by the residential and office portion in 2023.
Condos in this development will be, without a doubt, an excellent investment opportunity, thanks to the proximity to the waterfront, downtown Toronto and excellent transit access.
